About 12 executives were granted exemptions to the $500,000 cash cap because they were necessary for the companies to "thrive, be able to compete, and not lose key people," he said Friday.
The new rules will only apply to the second half of December, and will not affect what the employees already have been paid this year.
The rules will affect many workers' year-end bonuses and stock grants, Feinberg said. They also will serve as a starting point for negotiations next year over pay packages for 2010.
Feinberg already announced specific pay packages for the top 25 earners at firms he oversees.
Feinberg's rulings don't apply to Bank of America because its bailouts were repaid this week. Chrysler and Chrysler Financial also were exempt because executives there made less than $500,000.